From a CRA perspective, you're correct. Transparency is key, and there can be legitimate reasons to move money back and forth internationally, or have holdings and pay the full tax due.
Step one is transparency, and that's what these agreements go to. There are now 101 countries internationally that have committed through the global forum to moving toward what the global standard is on full transparency. In terms of exchange of information, I can tell you there's a robust regime of independent review and tiers. Countries that are participating under the global forum engage in these third-party reviews to have their protection of taxpayer information assessed, and they go through levels. What the CRA does, in consultation with Finance and IT experts, is assess the risk to Canadian taxpayer data when we decide which jurisdictions we exchange with.